Understanding Regulation Theory, Strategy, and Practice

Regulation is a key concern of industries, consumers, citizens, and governments alike. Building on the success of the first edition,Understanding Regulation, Second Editionprovides the reader with an introduction to key debates and discussions in the field of regulation from a number of disciplinary perspectives, looking towards law, economics, business, political science, sociology, and social administration. The book has been extensively revised and updated to take into account the significant developments and events of the past decade. Containing several new chapters, it has been completely restructured into seven parts, covering: the fundamental issues regarding regulation; different types of regulatory strategies; rules and enforcement; quality and evaluation; regulation at different levels of government; network issues; and concluding thoughts. Drawing on cross-sectoral and cross-national examples, this book reviews the central questions of regulation, and reflects upon those contentious issues that affect the design and operation of regulatory institutions. Amongst other topics, it discusses 'better regulation', enforcement, self-regulation, risk regulation, cost-benefit analysis, and more utility regulation-oriented topics, such as price-setting. It will be an essential resource for academics, researchers, and graduates across the social sciences studying regulation.

Robert Baldwin is a Professor of Law at the LSE where he teaches Regulation and Criminal Law at undergraduate and graduate levels. He has published widely on regulation and has broad consultancy experience in regulation. His previous books include The Government of Risk (Oxford University Press, 2001 with Christopher Hood and Henry Rothstein). He is the Director of the LSE Short Course on Regulation.

Martin Cave is BP Centennial Professor at the London School of Economics and Political Science for 2010-11. He was a member of the U.K. Competition Commission from 1996-2002. He has authored numerous works on economic regulation, and has very extensive experience of advising regulatory agencies such as Ofcom, OFWAT, the Office of Fair Trading, international institutions such as the European Commission and the OECD, and governments in several countries.

Martin Lodge is Reader in Political Science and Public Policy at the LSE. His research and teaching interests are in the comparative study of Executive Government and Regulation.

1. Introduction
Part I: Fundamentals
2. Why Regulate?
3. What is 'Good' Regulation?
4. Explaining Regulation
5. Regulatory Failure
6. Regulating Risks
Part II: Strategies
7. Regulatory Strategies
8. Self-regulation, Meta Regulation, and Regulatory Mixes
9. Franchising
10. Emissions Trading
Part III: Rules and Enforcement
11. Enforcing Regulation
12. Responsive Regulation
13. Risk Based Regulation
14. Standards and Principles
Part IV: Quality and Evaluation
15. Cost-Benefit Analysis and Regulatory Impact Assessment
16. Accountability, Procedures, and Fairness
17. Regulatory Competition and Coordination
Part V: Regulation at Different Levels of Government
18. Multi-Level Regulation
19. Regulation and the European Union
20. Regulation and Development
21. Global and International Regulation
Part VI: Network Issues
22. Regulating Prices in Natural Monopolies
23. Using Competition in Network Industries
24. Contestability and Separation in Network Industries
25. Implementing Price Controls
26. Efficiency and Innovation in Network Industries
Part VII: Conclusions
27. Conclusions